Hello traders,
XAGUSD has made a hard trend up with 5-wave as you could see in the channel.
It did make a new high which is now a resistance zone for it.
But just need to be cautions as it might start to drop from position 5 to make a new 15m downtrend swing by breaking through support 0.
On that case, the whole channel would be the last swing up to consider for our later trades. fibo 618 is the 1st support.
Or the 1st downtrend swing could be a ABC wave where B position is still not confirming. Even it looks a little be more complicated, it is still targeting fibo 618 position on this 15 m chart.
And all those supports down there are waiting for sellers.
Good luck!!
LESS IS MORE!
XAGUSD has made a hard trend up with 5-wave as you could see in the channel.
It did make a new high which is now a resistance zone for it.
But just need to be cautions as it might start to drop from position 5 to make a new 15m downtrend swing by breaking through support 0.
On that case, the whole channel would be the last swing up to consider for our later trades. fibo 618 is the 1st support.
Or the 1st downtrend swing could be a ABC wave where B position is still not confirming. Even it looks a little be more complicated, it is still targeting fibo 618 position on this 15 m chart.
And all those supports down there are waiting for sellers.
Good luck!!
LESS IS MORE!
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Perfect sell on 4h chart.
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Waiting for B position to sell later.
